Archive for June, 2016

Saudi, Japanese officials to discuss investment into Saudi Aramco IPO

Saudi, Japanese officials to discuss investment into Saudi Aramco IPO

Selling just 1 per cent of Saudi Aramco would create world’s biggest IPO By Chen Aizhu BEIJING, June 29 (Reuters) – Saudi and Japanese officials will hold meetings on Wednesday to discuss Japanese investment into the planned initial public offering (IPO) of a small part of Riyadh-controlled Saudi Aramco, said Khalid Al-Falih, the kingdom’s energy […]

Norway oil strike: Production at five fields to shut if wage talks fail

Norway oil strike: Production at five fields to shut if wage talks fail

Norway oil strike could begin July 2 OSLO, June 29 (Reuters) – Oil and gas production at five Norwegian oil and gas fields will shut if oil workers and employers fail to agree a wage deal by July 2, The Norwegian Oil and Gas Association (NOG), representing the oil firms, said on Wednesday. The fields that […]

China needs market reform, emission rules to boost gas use – industry

China needs market reform, emission rules to boost gas use – industry

China has offered incentives to renewable power generation, but not gas By Kathy Chen and Chen Aizhu BEIJING, June 29 (Reuters) – China needs broader market reform and tighter emission regulations to promote natural gas as the most effective fuel to cut its emissions, industry executives said on Wednesday. The world’s largest energy user’s ambition to spur […]

Statoil to keep fields operating even if Norway oil workers strike

Statoil to keep fields operating even if Norway oil workers strike

Workers could be picketing Statoil on July 2 OSLO, June 29 (Reuters) – Statoil will initially keep oil fields operating even if negotiations set for June 30 to July 1 fail to avert a strike that would halt output at others, the Norwegian Oil and Gas Association (NOG) said on Wednesday. Workers at five fields […]

German climate protection plan watered down

German climate protection plan watered down

Original German climate protection plan met with opposition BERLIN, June 29 (Reuters) – Germany has abandoned plans to set out a timetable to exit coal-fired power production and scrapped C02 emissions reduction goals for individual sectors, according to the latest draft of an environment ministry document seen by Reuters on Wednesday. An earlier version of […]

Prices of US biofuels credits jump on supply worries

Prices of US biofuels credits jump on supply worries

Higher biofuels use requirements in 2017 By Chris Prentice NEW YORK, June 29 (Reuters) – U.S. biofuels credits hit near three-year highs on Wednesday after Goldman Sachs Group warned supplies could more than halve by the end of 2017, in what could mark the return of prolonged wild prices in the niche market for the […]

ETE terminates merger agreement with Williams

ETE terminates merger agreement with Williams

ETE walks away from $20 billion deal June 29 (Reuters) – Energy Transfer Equity walked away from its more than $20 billion takeover of Williams Cos Inc on Wednesday after months of lawsuits and heated arguments between the rival pipeline companies. A Delaware judge ruled last week that ETE could terminate the deal after Tuesday […]

US crude stockpiles fall, gasoline builds as refiners boost output

US crude stockpiles fall, gasoline builds as refiners boost output

US crude stockpiles down 4.1 million barrels June 29 (Reuters) – US crude oil stockpiles fell sharply last week and gasoline inventories posted an unseasonably surprise large build as refineries ramped up production, the U.S. Energy Department said on Wednesday. Crude inventories fell 4.1 million barrels in the week to June 24, the sixth consecutive […]

Oil prices up 4 per cent on U.S. crude draw; Brent back above $50

Oil prices up 4 per cent on U.S. crude draw; Brent back above $50

Oil prices up on fading Brexit fears By Barani Krishnan NEW YORK, June 29 (Reuters) – Oil prices surged 4 percent on Wednesday, with Brent settling above the psychological $50 a barrel mark, after a larger-than-expected drawdown in U.S. crude inventories. It was a second straight day of gains for oil, which has risen nearly […]

Mississippi gas plant fire halts two U.S. Gulf Coast platforms

Mississippi gas plant fire halts two U.S. Gulf Coast platforms

Mississippi gas plant fire at Enterprise Products Partners LP in Pascagoula By Catherine Ngai and Liz Hampton CALGARY, Alberta/HOUSTON, June 28 (Reuters) – At least two offshore oil platforms halted operations on Tuesday in the U.S. Gulf of Mexico after a fire at a natural gas processing plant in Mississippi shut a crucial pipeline that brings […]